CRV Technical Analysis: Will CRV Prices Rise Above $1.50?

The CRV prices attempt a bullish reversal from the support trendline within the rising channel to crack above the $1.50 mark. Key Technical Points: The Curve Dao (CRV) price action teases a bullish turnaround as the lower price rejection candles form at the support trendline. The previous bear cycle from the resistance trendline accounts for an 18% drop in the last five days. With a market cap of $703 million, the intraday trading volume of Curve Dao has increased by 32% to reach $228 million. Past Performance of CRV As predicted in our previous article, the CRV prices beat the then opposing 100-day SMA to reach the resistance trendline slightly above the $1.50 mark. After that, however, the buyers lose trend control due to the increased supply pressure at the psychological mark of $1.50. This bearish turnaround tests the support trendline and accounts for an 18% price fall last week. But the recent lower price rejection candles near the support trendline and the 100-day SMA projects a high possibility of a bull cycle. Source – Tradingview CRV Technical Analysis As the CRV price trend prepares for a bull cycle, the spike in intraday trading volume reflects an increased bullish commitment. However, a candle closing below the support trendline will initiate a bearish downfall. With the bear cycle clinging to the 100-day SMA, the bullish influence grows over the 50-day SMS resulting in a positive turnaround. The RSI slope is exhi...